Many business owners are familiar with the negative threats associated with a security breach. Of course, this could include lost money, lost customers and worst of all, a damaged reputation. What some business owners aren’t aware of, is that preventing those situations that may lead to a breach is just as critical from a legal standpoint. Essentially, it is your legal obligation to have specific precautions in place to avoid such an occurrence in the first place.
In the United States, government regulations dictate that any organization regardless of its size or industry, take responsibility in ensuring that sensitive data in their custody remains secure at all times.
FACTA (Fair and Accurate Credit Transaction Act), is a federal law in place that applies to each and every business in Tennessee, and the rest of the United States. The purpose behind this legislation is to eliminate the risk of both fraud and identity theft. Any organization that fails to dispose of sensitive information properly may as a result face some significant fines of up to $2500 per document.
The Health Insurance Portability and Accountability Act mandates that every hospital, clinic and dental office that maintains or stores confidential patient information, complies with this act. This preventative measure assists in keeping patient records safe and secure, during storage and after it’s been disposed of. Stay up-to-date with the necessary destruction and handling requirements that keep employers, and providers in compliance with this government law.
The Gramm-Leach-Bliley Act (GLB) was established primarily for financial institutions in Tennessee, but it’s also applicable to any company that circulates, handles, and stores customer information. The objective behind this act is to protect the financial data of customers and penalize any bank or financial institution that fails to do so. This legislation states that all financial institutions must implement and follow the necessary security measures to safeguard customer information at all times.
This is an interactive community for sharing and exchanging details surrounding the Sarbanes-Oxley (The Corporate and Auditing Accountability and Responsibility Act), providing users with practical resources and tips. Discover the right approaches for meeting these government policies in today’s economy.